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Before providing any services, you need to register with Phonepay Plus. Moneymagpie: Why did you set up a premium rate phone line?After you’ve registered, you must submit details of your premium rate service and numbers online within 2 working days of them being active. It will take time and some effort so if you’re looking for a quick buck this probably isn’t the money maker for you. In 2011 Lee Beaumont from Leeds decided to take revenge against cold callers. Lee: Back in 2011 I used to work as a night manager at Tesco and I would use my evening catching-up on some TV before work.In 2009 the premium rate industry in the UK was estimated to be worth around £800 million – however strict regulation has been put into place over the last couple of years to try to weed out the cowboys.Recommended for you – Get your own back – cold call revenge!
These charges are then shared between the network operator (typically BT) and the service provider – you.You may need to get their permission to set up some services, where consumers need extra protection – it’s better to check before wasting your time.You must check the background of premium rate organisations that you intend to connect with and ensure consumers are not put at risk.Lee: The best thing is not to look at it as “How much money can I make?” as Phonepayplus (regulator) advise – you can not use 08 numbers just to make money.
Now that you can recognise what premium phone numbers look like how about we tell you how you can make some money from setting one up for yourself?